"Directors view this as a normal technical challenge, which is to be expected in a new uranium deposit such as Oban. Each in situ recovery uranium field has its own particular characteristics which must be understood and adapted to. This is the reason that Curnamona Energy decided to carry out a field leach trial before committing to a large scale plant. The testing process requires careful scientific monitoring and for this reason it has taken, and will continue to take, more time than originally anticipated to carry out various tests in order to determine what is happening in the sub-surface. Based on the favourable chemical leach testing results mentioned above, directors remain confident of a positive field trial result when the acidified solutions come into contact with the uranium mineralised sands. Once this technical challenge is resolved, it will be a major step forward in the future development strategy for the Oban deposit. In the meantime, the field trials will continue and the market will be updated as new materially significant information becomes available."
To me the above suggest that this problem will slow down the development of Oban but is not a great problem. I am sure that Beverley and Honeymoon had similar problems which had to be overcome. Curnamona also has a close relationship with those two projects so I expect a quick solution will occur.
It is also good that Bob has released some information.
CUY Price at posting:
22.0¢ Sentiment: LT Buy Disclosure: Held